INDIA RENEWABLE TARGET
Budget 2024 may see Modi government continue its pitch for India's green energy ambitions
BUDGET EXPECTATIONS: Industry experts anticipate the Union Budget 2024 will maintain the Modi government’s focus on renewable energy, emphasizing policy stability and increased investment. Sharad Mahendra of JSW Energy underscores the need for consistent policies to support long-term projects and a significant boost in annual renewable capacity to meet India’s 2030 target of 500 GW.
Transforming India's power grid: Highlights from the Transmission & Distribution Conclave 2024
The conclave that took place at KSH Infra Park in Pune, Maharashtra on June 13, brought together industry leaders, experts, and enthusiasts to explore the transformative possibilities within the transmission and distribution industry.
JSW Energy inks power purchase agreements via its arms for 1,325 MW renewable projects
JSW Energy has signed power purchase agreements with subsidiaries for wind and solar projects, totaling 1,325 MW. This brings the company's total locked-in capacity to 13.6 GW. The agreements account for 36% of the company's pipeline capacity, aiming to achieve 20 GW capacity by 2030.
Brookfield targets USD 10 billion investments in renewable sector
Canada’s Brookfield Asset Management plans to triple its investments in India’s renewable energy sector to over $10 billion within the next three to four years. The firm is also exploring opportunities in electric vehicles and green hydrogen. With a current portfolio of over 25 GW, Brookfield is the second-largest investor in India’s green energy assets. Through its new Catalytic Transition Fund, Brookfield aims to further its commitment to clean energy and transition projects in emerging economies, including India.
India set to see biggest jump in coal-fired power in a decade
India is set to add 15.4 gigawatts of new coal power capacity this year, the most in nearly a decade, to meet rising electricity demand. Despite clean-power goals, coal remains vital due to economic growth and severe heat waves. Challenges in energy storage hinder renewable expansion, with slow progress in alternative technologies.
Roads, renewables and real estate investments to go up by 38% in FY’25 and FY’26 to Rs 15 lakh crore: CRISIL Ratings
In its annual Infrastructure Summit 2024, CRISIL Ratings said the surge will ride on India’s need for creation of sustainable infrastructure by adding more green power to the energy mix, improving physical connectivity through a denser road network, as well as rising demand for residential and commercial real estate, cautioning of some risks across three scetors.
India likely to add 30-35 GW renewable capacity in FY25
India is set to add 30-35 GW of renewable energy capacity this financial year, surpassing last year's 18.4 GW addition. Renewable sources contributed 71% to the 26 GW power generation capacity added in FY24.
CleanMax Enviro Energy targets 3000 MW capacity by 2026
CleanMax Enviro Energy Solutions, backed by Brookfield Renewable, aims to increase operational capacity to over 3,000 MW by June 2026. The company has expanded to 8 states in India, with significant growth in commercial and industrial segments.
India to spend up to $385 bln to meet renewable energy target, Moody's Ratings estimates
India needs $385 billion for 500 GW renewable energy by 2030. Coal remains key for next decade. Adani Group plans to generate 45 GW of renewable power by 2030 to support India's transition to net-zero by 2070.
Job demand in renewable energy sector surges 23.7 pc in FY24: Report
The renewable energy sector is seeing a rise in demand for roles like solar PV technicians, wind turbine installers, roofers, and storage operators, in addition to a decline in attrition rates to 33.5% in FY24.
Cairn Oil & Gas targets net zero by 2030
Cairn Oil & Gas, part of Vedanta Group, aims to achieve net zero by 2030 through renewable energy initiatives like sourcing 70 MW of renewable energy and installing solar rooftops in Rajasthan and Gujarat. Moreover, the group also aims to achieve net zero by tree planting.
Billionaire Gautam Adani’s green targets questioned in Snowcap analysis
The company “can meet just 50% of its 50GW target funding requirement by 2030 without raising equity, despite claiming this target is ‘fully funded’,” Snowcap said.
Rich nations met $100 bn climate finance goal two years late: OECD
Wealthy countries finally met the $100 billion annual climate aid target for poorer nations in 2022, two years late, as per the OECD. The delay has damaged trust in climate negotiations as nations aim for a more ambitious goal by November. However, the $100 billion falls short of the estimated $2.4 trillion needed annually by developing nations for renewable energy and climate adaptation.
Candidates of strong directional move on 4th June: 5 PSU stocks which have benefited the most due to government policy push and spending
In the last two years, it is a well known fact that every PSU stock has been re-rated by the street, right from perennial under-performers like oil marketing and refining oil companies to PSU banks. But if one looks a bit deeper there are some which have been re-rated more than others. The reason, these are PSUs which are from the sectors where the government has clearly decided are its priority areas and there has been a policy push for these sectors. A company which is going to be providing finance for the expansion of the solar energy network which is the next focus of the government. The overall demand runway for these sectors is longer which means overall growth will be higher when confirmation of policy continuity comes. Also they are in business where it would be difficult for the private sector to compete. Now because it is the policy push which matters, the continuity of tailwinds of higher government spending, will push them for another round of re-rating on the result day.
Green energy will help fight pollution and create jobs in India
India, committed to climate mitigation programme, today stands 4th globally in renewable energy installed capacity, 4th in wind power capacity and 5th in solar power capacity, as per International Renewable Energy Agency - Renewable capacity statistics 2023.
Stock Radar: Multibagger returns in less than 1 year! This green NBFC player is poised for continued growth
IREDA has rallied by about 190% since its November 2023 listing. After reaching 215 in February, the momentum in the stock fizzled out. It continued to drift lower and found support above 120 levels in March. The stock is trading well above most of the crucial moving averages such as 5,10,30,50 and 100-DMA on the daily charts.
Tata Power plans 66 pc higher capex at Rs 20,000 cr in FY25; to spend 50 pc on renewable energy projects
Tata Power plans a 66% higher capital expenditure of Rs 20,000 crore to focus on energy transition and net-zero emissions. The company aims for 70% capacity from non-fossil-based fuels by 2030.
Southern India can Lead India's pursuit of 500GW renewable target by 2030: Experts and industry players
Southern states like Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, and Telangana hold immense solar and wind energy potential. However, realizing this potential requires substantial investment in strengthening transmission infrastructure.
India expects annual power output to grow at fastest in over a decade
India anticipates a 9.3% increase in power generation to 1,900 billion kWh by March 2025, the fastest growth since 2011/12. Factors include searing heatwaves, economic activity uptick, and projected above-average monsoon rains. Fossil fuel-fired power is expected to dominate, with coal and natural gas generation increasing.
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